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Can the Private Sector Do Better Than Uncle Sam?

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  • Description

    FBN's Dennis Kneale breaks down the privatizing mantra of the U.S.

  • Duration 4:16
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Well is private better.

The public good privatizing government services help save billions of dollars senate -- joins me now with more on the story.

Sheryl let's face -- -- Our government is fat ugly and out of control it now gobbled up 25%.

Of our national economy it's the largest property owner of the nation and it poured billions -- incompetent antiquated services.

Like the post office and Amtrak what to do.

Privatize it in one capitalists who we can cut the size -- the government raised hundreds of billions selling off assets.

And save billions morning expenses and improve service -- profit motive.

Forces -- they should think about this may just -- -- the privatize that market has been a main stated that seventies.

And Thomas Jefferson that's how far back to -- go to the founding fathers he spoke to it back and 1808.

Today one -- -- on Wall Street John C Whitehead the fed chairman of Goldman Sachs in the seventies.

His Wall Street could really have a tattered image.

And reap up fortune in fees by doing Leveraged Buyouts of federal toll roads and bridges and office complexes.

So what -- did what to do -- to privatize that upon.

Yet get a gag Canada gets orderly -- what Feldman that that we have a a couple good charts for -- what -- -- we got four million miles of public roads you could sell some of that.

Amtrak seventeen billion in assets I think the business.

You got 121000 miles of commercial water ways you do something to some of the 17100 miles of levees 650 damn 308 lakes.

75 hydropower plants right.

But it on we've got more stuff what else to sell the golden Fort Knox is -- 260.

Will -- to two million ounces at 400 billion right now.

Strategic petroleum reserve we got to a lot of barrels of crude -- for seventy billion.

And government backed student loans 400 billion dollars.

And one last -- -- -- space exploration you know the Falcon Rocket that private rocket gonna take over the shuttle it can fly after profits warning millions of seat.

First of 300 million a -- for government.

And ul one last thing I -- that the buildings.

Government owns buildings that are -- 141000 excess of 55 pounds and under utilized.

The GSA says 40% of its buildings are under performing sell off -- That's the answer.

What what all of it let me bring -- day if what do you think is yeah.

It we have it would have to be a good deal for the taxpayers would have to make sure that's a very transparent process to make sure that it works out well in the make sure that the timing is right to make sure that you don't.

Drop -- -- so to speak at a time of economic distress and then have a bad deal for the taxpayers when you turn around 510 years later and realize that wasn't the deal the taxpayers until -- You know you gotta be careful because the reason and fact exists is because is there anyone out there who could make passenger rail service profitable.

-- there is of that to some kind of private buyout artists would chop it up and figure out what to do it and if it can't operate at a profit I question whether it should exist.

One last -- read it fiscal -- the government sold all of a 135 million dollars -- the buildings right there weren't but that you can.

It saved -- 125 million in annual operating cost.

By selling a 135 million buildings he get -- double.

The British.

Actually know how to privatize rail high speed rail.

And make it profitable until we heavy done but we don't have high speed -- we have an antiquated we will -- really -- -- -- we -- -- we want guys behind that but what company has the money to do that.

I'm not against -- -- to -- who's out.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And who -- to be but anybody who goes and besides I can find a way to make better money with this I'll bet -- -- Warren Buffett.

And that that the relative lucky data out of love to see that I would back down again like all the.

Arm up -- did a pretty good job at the nation's rail system.

I do think are right mobile coma after the shows sovereigns you wouldn't -- and if he doesn't want to do and that's why didn't we should have a candidate.

Two -- -- thanks Adam to curb spending the hour with me and that is it for me now sitting in ever to.

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